On September 16, Inditex which owns Zara announced that both sales and profits have increased once again, in part thanks to its expansion into Asia.
Now recognised as the world’s biggest apparel retailer it has grown phenomenally from its founding as recently as 1975 by Amancio Ortega and Rosalía Mera and it announced net sales of €9.4 billion with profits up by more than 25 per cent at €1.17 billion to September 2015.
Inditex opened 94 new stores worldwide, including 25 branches of its Zara Home housewares shop which took its total number of stores worldwide to 6,777 and with 141,192 employees, the company has increased its staffing levels by 10,000 worldwide which includes 2,532 jobs in Spain.
Zara has just launched online sales in Hong Kong, Macau and Taiwan so that the current number of markets in which the Group sells online is 28. Other brands within the group which include Pull & Bear and Massimo Dutti have all recently opened their online platforms in China.
The Madrid stock market responded favourably to the announcement and the group’s shares have increased by 25 per cent during 2015.